Search results

Yeah thanks block is R60 too so I took the post down. Apologies.

I have similar block in Mandurah, planning on putting 6 3x2s and 1 3x2. All good sized, well planned apartments, same zoning. Mandurah has parking concessions, 1 bay per unit allowed. Apartments are class 2 building though, so may incur additional expenses including engineering, fire...

Can I add to the above scenario, but say you were in the process of building a set of units, you had progress payments remaining and that you had not drawn down on the loan completely yet. Could the bank refuse to release the additional promised funds? I know the scenario is unlikely, but if...

Great thanks Sanj. Good to know you can also do vacant Strata also.

Still sorting out finance for the development and trying to factor in all the possibilities. :) Does anyone know whether it is possible to have 'built titles' issued prior to the development being completed. The site (currently 1 title) will have 3 or 4 front apartments and 4 rear apartments...

You're a registered builder, maybe find a partner, build a much larger development and take a builders margin on what you and your partner develop, in addition to the profit you make as partner at the end of the job. This will give you your income throughout the job.

Got in touch with a friend of mine, who is also a broker - residential. They did some digging for me and this is the type of deal they have tentatively come back with. LOC against PPOR - $1.4M - 5.2% Commercial loan against Development - $0.8M - 7% + 0.7% upfront I would need to sell 3...

Posted my question above prior to reading this thanks. I will look into doing this.

Ok its good to get a consensus that this will be a commercial loan at commercial rates. Its also good to know that the rates vary depending upon the deal / business case. Yes the margins are slim, so there is no room for error. My contingency is currently at 10%. My costings have been...

Who offers the best commercial loans and what rates should I expect for this type of deal?

Yes GRV is a low estimate could increase to $1.9-1.95M if not selling off the plan. No DA yet, but it should be fairly straight forward. Not sure whether we will keep the units or move onto the next project. They will be cash-flow positive upon completion so should be easy to keep. But the...

OK new to property development and would appreciate your advice. :) Building 6-8 2x2 apartments within the Perth Metro. Project $1.7M conservative value upon completion. Will use primary residence as additional security value $1.8M Need to borrow $2.2M in total (which includes current...